HSBC (LON:HSBA) Stock Price Crosses Above Two Hundred Day Moving Average of $643.75

Shares of HSBC Holdings plc (LON:HSBA) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 643.75 ($8.14) and traded as high as GBX 695.80 ($8.80). HSBC shares last traded at GBX 688.90 ($8.71), with a volume of 17,510,614 shares trading hands.

Wall Street Analyst Weigh In

HSBA has been the topic of a number of analyst reports. Berenberg Bank boosted their price objective on HSBC from GBX 800 ($10.12) to GBX 830 ($10.50) and gave the company a “buy” rating in a research note on Tuesday, April 30th. Shore Capital reiterated a “buy” rating on shares of HSBC in a report on Tuesday, April 30th. Citigroup reissued a “buy” rating and issued a GBX 810 ($10.25) price target on shares of HSBC in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of HSBC from GBX 660 ($8.35) to GBX 700 ($8.85) and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, HSBC presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 792 ($10.02).

HSBC Stock Down 0.3 %

The firm has a market capitalization of £129.24 billion, a P/E ratio of 757.03, a PEG ratio of 5.15 and a beta of 0.56. The stock has a fifty day simple moving average of GBX 690.27 and a 200 day simple moving average of GBX 643.75.

HSBC Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, May 9th were issued a $0.31 dividend. The ex-dividend date was Thursday, May 9th. This represents a dividend yield of 3.7%. HSBC’s payout ratio is 5,384.62%.

Insider Transactions at HSBC

In other HSBC news, insider Georges Elhedery acquired 26,899 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average cost of GBX 713 ($9.02) per share, with a total value of £191,789.87 ($242,587.74). Corporate insiders own 0.32% of the company’s stock.

HSBC Company Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.